Hi,
iam planning to buy a house soon i have been looking at power of sale houses with some TLC required and it might be not vacant and it also might take some time to have a position of the house 90 days (evection process) My question here is what choices do i have to get a mortgage with a fair rate. the bad news is that iam a selfemployed and i don't want to provide any income verification. the good news is that i can put a large down payment up to 35% of the house value i just checked my credit report and power score with equifax and my FICO SORE IS 744. my whole question here is can i get pre aprove for a mortgage for a power of sale house with a 35% down payment and NO income verificationa with avarge credit and the house not vacant means the bank or the mortgage company can only appraised the house from outside if not what other choices do i have thanks

Yes there is no problem and you will qualify for competitive mortgage rates as long as the down payment is more than 25%.

Buying a power of sale house may not save you much these days as the Banks conduct multiple appraisals before deciding on price of the property. Look out for a fixer upper and that needs some TLC and this way your return on investment (ROI) will be much better than the former.

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
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